Next week's inflation data could derail a market that appears to be priced for perfection, ahead of the Federal Reserve's meeting later this month. The November consumer price index set to release Wednesday is expected to show an increase of 0.2% and 2.6% month on month and year over year, respectively, according to FactSet. If that's the case, it would mean no change from the prior month , but also show stubborn inflation.
The Dow Jones Industrial Average is the lone benchmark headed for a losing week, down 0.7%. Market euphoria Part of this week's advance has to do with the surprising gains in mega-cap tech after Salesforce's results exceeded expectations and showed strong promise for the company's artificial intelligence products. That revived interest in a tech trade some expected was over, and bolstered confidence in the market as money continues to rotate in and out of the different sectors.